Purdue startup receives funding to accelerate innovation to treat MS pain

WEST LAFAYETTE, Ind. - The Elevate Purdue Foundry Fund has awarded Neuro Vigor a $20,000 "Black Award" to accelerate commercialization of its drug therapy for pain in multiple sclerosis.

"This early stage award is the result of a very competitive process and recognizes Neuro Vigor's progress to date and its potential as a future target for other investors with whom we might partner to help the company deliver its solutions to patients worldwide," said Chris LaMothe, Elevate Ventures CEO. 

Like past recipients of the "Black Awards," Neuro Vigor was formed to bring Purdue research to the marketplace.

"We value this vote of confidence by Purdue and Elevate Ventures in our technology, our leadership team and our strategy to pursue this significant healthcare opportunity," said Mark Van Fleet, Neuro Vigor's Managing Partner.

Neuro Vigor's co-founder and chief scientist, Riyi Shi, has discovered a drug that can reduce a powerful neuro-toxin in the body, which has significant promise as a novel therapy for neuro-degenerative disease and injury.  

"Neuro Vigor offers a good example of how an outstanding Purdue innovation, such as the potential application of Dr. Shi’s disruptive technology to treat major neurological challenges, could positively impact unmet patient needs in a large underserved global market," said John Hanak, director of venture capital and funding resources for the Purdue Foundry.

The Elevate Purdue Foundry Fund is operated jointly by officials from the Purdue Foundry, an entrepreneurial and startup hub located on the Purdue University West Lafayette campus, and Elevate Ventures, a private venture development organization that nurtures and develops emerging and existing high-potential businesses into high-performing, Indiana-based companies.

Neuro Vigor's technology is licensed through the Purdue Research Foundation Office of Technology Commercialization. To learn more about this or other technologies visit http://otc-prf.org. 

About Neuro Vigor

Neuro Vigor is a drug development company focused on repurposing existing FDA cleared therapies to address the unmet needs of patients afflicted with Neuro Degenerative Diseases and their complications. Neuro Vigor has licensed technology from Purdue University based upon the work of Professor Riyi Shi, MD, Ph.D., for the treatment of Multiple Sclerosis, Neuropathic Pain and Parkinson's Disease. Neuro Vigor's first repurposed product will be Hydralazine to address Central Neuropathic Pain, which afflicts over 50 percent of MS patients.   

Purdue Research Foundation

The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Established in 1930, the foundation accepts gifts; administers trusts; funds scholarships and grants; acquires property; protects Purdue's intellectual property; and promotes entrepreneurial activities on behalf of Purdue. The foundation manages the Purdue Foundry, Purdue Office of Technology Commercialization, Purdue Research Park and Purdue Technology Centers. The foundation received the 2014 Incubator Network of the Year from the National Business Incubation Association for its work in entrepreneurship. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at foundry@prf.org.  

Neuro Vigor contact: Mark Van Fleet, 765-430-5559, mvanfleet@neurovig.com

Purdue Research Foundation contact: Cynthia Sequin, 765-588-3340, casequin@prf.org